We are known for “telling it like it is” in the real estate business, and when the market isn’t performing well we have no problem saying it. Thanks to the strong dollar and fewer international buyers this year, real estate on Key Biscayne has hit the brakes. Sales in both the single-family home market and the condo market have dropped by more than 50% in 2016 compared to the same time last year. There is good news however! We haven’t seen a drop in values….YET. But I do believe that we will see many price reductions in the coming months as sellers become frustrated with the market. Below is a breakdown of the numbers.

Single-Family Homes

Between 1/1/2015 – 4/20/2015: 28 Closed Sales
Between 1/1/2016 – 4/20/2016: 10 Closed Sales

Condos/Townhouses

Between 1/1/2015 – 4/20/2015: 86 Closed Sales
Between 1/1/2016 – 4/20/2016: 47 Closed Sales
If you are interested in working with Realtors who track the market and specialize on Key Biscayne, please contact us. We can be reached by filling out our contact page here.